Electricity prices in Estonia have been reaching new, surprising records this heating season, and yet power consumption in the country increased by ten percent in December, compared to December 2020, Estonian public broadcaster ERR reports.
According to Estonian power grid company Elering, the average price of electricity meanwhile rose by 345 on year to December. The increase in consumption can primarily be attributed to colder weather, as the average temperature in December 2021 was lower than December in 2020. Another, but less significant factor was economic rebounding from the crisis caused by the pandemic.
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The average monthly price of electricity in Estonia increased from EUR 45.9 per MWh to EUR 202.65 per MWh. The average electricity exchange price grew from EUR 40.99 per MWh to EUR 116.78 per MWh.
In the whole of 2021, electricity consumption in Estonia decreased in 2021, to 8.05 Twh, compared to 8.44 Twh in 2020, ERR reports.
Estonian power consumption increased by 10%, while prices rose by 345%
